Oasis, which holds a 9.9 percent stake in Japan’s Alpine, has argued that the company’s board was allowing Alps to take over the company at an unfairly low valuation.

Seth Fischer, the fund’s founder and Chief Investment Officer, told Reuters that he had proposed that Alpine Electronics pay a special dividend of 325 yen ($2.97) per share to shareholders and appoint two independent directors to the board. ($1 = 109.5200 yen) (Reporting by Ritsuko Ando Editing by Muralikumar Anantharaman)